The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 276 - 300 of 391
Alaska boasts some of the largest metals deposits on earth as well as vast quantities of coal, oil and natural gas. Ironically, companies such as Donlin Gold LLC (formerly Donlin Creek LLC) and Pebble Limited Partnership are looking overseas to find a reliable source of natural gas as they study the economics of building global-scale mines at their projects. "My guess is, our base case will be imported LNG. Which seems sort of weird to import natural gas into the State of...
Although the mining news for the last month was rather on the thin side in terms of volume, a number of significant milestones were reached by the Alaska mineral industry. Over the past 30 days or so, we have had new mineral resources published on three gold deposits and one polymetallic deposit. We've had the first preliminary economic analysis released on a deposit from the Ambler Mining District and the schedule for a second preliminary economic analysis announced for...
Northern Dynasty Minerals Ltd. has hung a "for sale" sign on its 50 percent stake in the enormous Pebble copper-gold-molybdenum project. Since Wardrop Engineering Inc. completed an appraisal of the Southwest Alaska deposit, executives have touted the company's merits as a takeover target. "Given the state of the current industry, the competition in the industry and the commodity market conditions we believe that going forward there will be competitive interest in Pebble from a...
The Fraser Institute recently released its "Survey of Mining Companies, 2010/2011," an annual survey of exploration and mining companies that gauges the pros and cons of working in various countries around the world. This year the survey results came from 494 mining companies working in 79 jurisdictions and representing cumulative exploration expenditures of more than US$2.4 billion in 2010. There was a bit of honey and a bit of vinegar for Alaska in this report. Let's do...
Mining is becoming increasingly important to Alaskans looking for good-paying jobs. Not only does the industry provide high wages, the geographical diversity of the mines provides employment opportunities to oftentimes economically challenged rural regions of the vast state. According to the Alaska Department of Labor & Workforce Development, the number of mining jobs in Alaska has jumped 40.3 percent since 2000, almost triple the statewide average employment growth of 14.1...
The Last Frontier, as Alaska has long been labeled, is as applicable a moniker today as it was to prospectors who ventured to the territory at the end of the 19th century. Alaska is considered one of the most mineralized provinces on Earth, but due to an inter-related combination of Arctic weather, rugged terrain, limited infrastructure and high exploration costs, the state's vast mineral potential remains at the edge of exploratory expansion. Though the Far North state...
Corvus Gold Corp., a new junior formed to explore International Tower Hill Mines Ltd.'s non-Livengood assets, hit the ground running with C$8 million worth of partner-funded exploration on its four Alaska properties and a 10,000-meter drill campaign on its sole-owned gold property in Nevada. By the time the Corvus' ticker symbol, KOR, lit up on the Toronto and New York Stock exchanges in August the new explorer was well into the summer exploration its promising Alaska...
Kinross Gold Corp. is a partner of choice for many junior explorers investigating gold prospects in Alaska and northwest Canada. The Toronto-based major has formed various alliances with a number of juniors exploring for gold in the Tintina Gold Belt, the prolific 145-million-acre (58.7-million-hectare) mineral region that hosts Kinross' Fort Knox Gold Mine and huge gold deposits including Donlin Creek and Livengood in Alaska as well as significant gold showings in Yukon...
Over the past 13 years NovaGold Resources Inc. has grown its resource base from 500,000 ounces of gold to more than 17 million ounces of gold reserves, 14 million ounces of gold resources, plus 150 million ounces of silver and 9 billion pounds of copper. While the company intends to continue to add to its stores of metals in the ground, its primary objective is to begin extracting these reserves at Donlin Creek and Galore Creek. "We continue to believe that advancing our asset...
RG: TSX V/RMIOF:NASDAQ OTC/D4R: FE President and Director: Anastasios (Tom) Drivas Chief Financial Officer: Errol Farr, CMA Vice President, Exploration and Geologist: Thomas Skimming, P. Eng. Romios Gold Resources Inc., organized in 1995 in Ontario, is a Canadian exploration company actively engaged in precious and base metal exploration in British Columbia and Quebec with a primary focus on gold, copper, silver and molybdenum. Romios has acquired nine strategically located gold-copper properties between Nova Gold/Teck...
When Corvus Gold Inc.'s ticker symbol, KOR, first lit up on the Toronto Stock Exchange and New York Stock Exchange AMEX boards in late August, the junior explorer already had multimillion-dollar exploration campaigns under way on its promising exploration projects in Alaska. The Vancouver B.C.-based junior, formed to explore International Tower Hill Ltd.'s non-Livengood projects, holds four exploration properties in Alaska and the North Bullfrog project in Nevada. Under the...
Dozens of small explorers mounted exploration campaigns in 2010 in and around the historic Stewart Gold Camp in northwestern British Columbia, and as assays trickle in from samples and core sent to labs this spring and summer, many of them are reporting encouraging results. The Stewart Gold Camp, located about 20 miles, or 35 kilometers, from the B.C./Alaska border, is an emerging, world-class mining district that continues to offer discovery opportunities for major gold-copper and precious metal polymetallic deposits. The...
Two seminal events related to the Alaska mining industry occurred in the past month. First, in late June, Coeur d'Alene Mines Corp. reported the commencement of production at it Kensington gold mine near Juneau. The mine has now joined the ranks of large-scale producers here in Alaska but only after lots of years and lots of dollars, capped by a trip to the U.S. Supreme Court! Hat's off to Coeur for its commitment to Alaska and for its desire to do this job right. Secondly,...
Corvus Gold Inc., a Vancouver B.C.-based junior company being formed to explore International Tower Hill Ltd.'s early stage properties, will initially hold four projects in Alaska and the North Bullfrog project in Nevada. Under the terms of the proposed transaction, Tower Hill will retain all assets relating to the Livengood gold project in Alaska and about C$41 million in working capital. Corvus will get the five properties and about C$3 million in cash. The spin-out...
The annual Fraser Institute "Report on Mining Companies, 2009-2010" was recently released to a thundering silence. Several oddball items may help explain the lackluster response, but Alaska fared well in the survey of 333 companies working in 72 jurisdictions worldwide. Alaska ranked 18th out of 72 under the policy potential index, which measures the regulatory attractiveness of a jurisdiction. Not unreasonably, Alaska was beaten by some mining heavyweights like Chile, Quebec,...
While many mining companies boast about their pipeline of projects, Barrick Gold Corp. and NovaGold Resources Inc. are studying the feasibility of building an actual pipeline 320 miles, or 515 kilometers, across Alaska to their 33.6-million-ounce Donlin Creek gold project. If the economics makes sense, natural gas shipped via pipeline from Alaska's Cook Inlet would replace the diesel proposed by the 50-50 partners in a feasibility study completed in 2008 as the fuel to generat...
IQALUIT, Nunavut - Canadian mining companies can expect to see continued upward movement in prices generally for precious and base metals and coal, along with increasing volatility during the next 18 months to 2 years, a top economist told a gathering here April 13. Patricia Mohr, vice president, economics and commodity market specialist for The Scotiabank Bank Group offered delegates attending the 13th annual Nunavut Mining Symposium her expert view of current global economic conditions and how they will likely impact...
Donlin Creek LLC, the 50-50 joint venture between NovaGold Resources Inc. and Barrick Gold Corp., has renegotiated its lease on the Donlin Creek gold project in southwestern Alaska. The Calista Regional Native Corp., owners of the property that holds the 40-million-ounce gold deposit, said the renewed lease provides the miners the additional time and land to mine the gold-rich ore, while maximizing benefits for its more than 13,000 shareholders. Calista Corp. owns 6.5 million...
I recently attended the Prospectors and Developers Association of Canada convention in Toronto where a buoyant, project-hungry crowd of 22,000 created enough of its own hot air to start the Greenland Icecap melting. In a clear case of anthropogenic global warming, representatives of companies, governments and agencies rolled out their projects in efforts to see and be seen. Alaska was well represented at the conference and should see some new investment interest coming from...
The Alaska Miners Association recently released an economic benefits summary of the Alaska mining industry. This summary indicated that in 2009 the Alaska mining industry provided 3,300 direct jobs along with 5,200 indirect jobs in 120 communities in Alaska with a combined payroll of US$320 million. Average industry jobs came in at US$83,000 per year, which is 85 percent higher than the average Alaska wage and second only to wages in the oil and gas industry. The industry...
Geologically, Alaska is a terrane wreck, with multiple tectonic plates dumping their mineral payloads over the landscape. Geologists are still sifting through the wreckage in many places across the state to determine which mineral deposits were dumped by which terranes and when - a task not always easily accomplished as pileups have resulted, in many cases, from multiple mineralization events happening in the same geographical regions over time. A terrane is a series of...
NovaGold Resources Inc. tapped a wealth of mining experience recently when it appointed Gil Leathley as senior advisor to the junior's president and CEO, Rick Van Nieuwenhuyse. "Mr. Leathley is one of the best mine builders in our industry," Nieuwenhuyse said. "He has an unparalleled record of building and operating mines around the world, including Golden Giant in Ontario, Eskay Creek in British Columbia and Ruby Hill in Nevada. Mr. Leathley's pragmatic advice and expertise...
Alaska Governor Sean Parnell reflected on Alaska's rich mining history and vowed to defend the state's mining regulatory process and to oppose unjust attacks on the industry during an address to miners at the Alaska Miners Association 2009 Annual Convention. While falling short of pointing directly to those who are fighting to prevent development and further exploration at the Pebble project in Southwest Alaska, the Alaska Governor's words addressed the issues state regulators and the Pebble Mine owners are facing. "We are...
Romios Gold Resources Inc. Nov. 11 reported the discovery of significant copper, gold and silver mineralization on its Dirk Property located about 37 kilometers, or 24 miles, southeast of NovaGold Resources Inc.-Teck Resources Ltd.'s giant Galore Creek deposit and 7 kilometers, or 4 miles, northwest of Romios' Newmont Lake Property in northwestern British Columbia. Only two zones, Dirk and Telena, of a number of mineralized zones indentified on the newly discovered Dirk property have been sampled to date. A total of 15...
The plunge of base metal prices and turmoil in the financial markets caused explorers and producers alike to scale back exploration budgets for 2009. North of 60 Mining News estimates this year's exploration spending in Alaska to be around US$125 million, down more than 60 percent from the US$328.6 million spent in 2008. Though the global financial meltdown played its role, it was not the largest factor in the dramatically scaled back exploration in Alaska. Alaska's two...
